Possible run on the Banks Again

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This topic contains 40 replies, has 7 voices, and was last updated by Profile photo of peterhun peterhun 4 years, 6 months ago.

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  • #56828
    Profile photo of angie
    angie
    Spectator

    Greeks withdrew 1 billion Dollars worth of Euros since May 6th, with a reported 700 million Euros taken out of Banks yesterday alone, at that rate it wouldn’t take too long for a total Greek banking collapse which some say could be contagious throughout Eurozone and another Banking collapse generally!

    Where is this money going, under the mattress, exchanged for Sterling, Dollars or some other currency, Gold for example?

    http://www.theeconomiccollapseblog.com

  • #108812
    Profile photo of katy
    katy
    Spectator

    It is claimed that money is flowing into UK from eurozone countries. Gold fell last week so can’t be that. I would change my euros (If I had any 😆 ) onto the $.

  • #108813
    Profile photo of Anonymous
    Anonymous
    Participant

    It’s still just craptastic paper money though. Real investment gold would be my best bet.

  • #108817
    Profile photo of angie
    angie
    Spectator

    I think a lot of the money will go into Dollars too initially and Sterling which is rising quickly against the Euro, then if there’s a world wide run on Banks, back into gold again 🙄

    It’s also thought that many wealthy French will start buying property in London and surrounding areas 😉

  • #108820
    Profile photo of Anonymous
    Anonymous
    Participant

    Which UK forex trading platform/company is a good one? I have searched the internet and found many forex trading platforms but do not know which one is more reliable.

    Thanks in advance for any help or suggestion.

  • #108971
    Profile photo of Anonymous
    Anonymous
    Participant

    Which UK forex trading platform/company is a good one? I have searched the internet and found many forex trading platforms but do not know which one is more reliable.

    Thanks in advance for any help or suggestion.

  • #108821
    Profile photo of peterhun
    peterhun
    Participant

    @Ardun wrote:

    It’s still just craptastic paper money though. Real investment gold would be my best bet.

    LOL, Gold. You may as well buy Lead, at least its useful.

  • #108973
    Profile photo of peterhun
    peterhun
    Participant

    @Ardun wrote:

    It’s still just craptastic paper money though. Real investment gold would be my best bet.

    LOL, Gold. You may as well buy Lead, at least its useful.

  • #108824
    Profile photo of angie
    angie
    Spectator

    Ah but Peter, who wants to wear lead jewellery it gives blood poisoning through the skin? 😆

    Gold has an altogether time endured glitter about it, looks good with diamonds too 😆

  • #108979
    Profile photo of angie
    angie
    Spectator

    Ah but Peter, who wants to wear lead jewellery it gives blood poisoning through the skin? 😆

    Gold has an altogether time endured glitter about it, looks good with diamonds too 😆

  • #108826
    Profile photo of Anonymous
    Anonymous
    Participant

    @peterhun wrote:

    @Ardun wrote:
    It’s still just craptastic paper money though. Real investment gold would be my best bet.

    LOL, Gold. You may as well buy Lead, at least its useful.

    Hehe I’m actually not a goldlover myself but it’s quite good in the sense that it’s small and historically never really lost any real value. It’s used quite a lot in electronics also so It’s just not bling bling. Copper is in my opinion a better metal but you need so much of it so it becomes a problem that way.

    You guys can mock me all you want for being a “nut” 😆

  • #108983
    Profile photo of Anonymous
    Anonymous
    Participant

    @peterhun wrote:

    @Ardun wrote:
    It’s still just craptastic paper money though. Real investment gold would be my best bet.

    LOL, Gold. You may as well buy Lead, at least its useful.

    Hehe I’m actually not a goldlover myself but it’s quite good in the sense that it’s small and historically never really lost any real value. It’s used quite a lot in electronics also so It’s just not bling bling. Copper is in my opinion a better metal but you need so much of it so it becomes a problem that way.

    You guys can mock me all you want for being a “nut” 😆

  • #108815
    Profile photo of Anonymous
    Anonymous
    Participant

    i heard that most businesses in greece are just taking cash no credit cards so they must be waiting for the banks to fail

  • #108831
    Profile photo of peterhun
    peterhun
    Participant

    @Ardun wrote:

    Hehe I’m actually not a goldlover myself but it’s quite good in the sense that it’s small and historically never really lost any real value. It’s used quite a lot in electronics also so It’s just not bling bling.

    Of course has its uses. But “historically never really lost any real value.” is a fallacy. Gold is a highly speculative investment that doesn’t give a return like most assets. And of course Gold has lost value, buy it during price spikes (1980 and now for instance) and after it collapses again, you will die before the price returns to what you bought it.

  • #108993
    Profile photo of peterhun
    peterhun
    Participant

    @Ardun wrote:

    Hehe I’m actually not a goldlover myself but it’s quite good in the sense that it’s small and historically never really lost any real value. It’s used quite a lot in electronics also so It’s just not bling bling.

    Of course has its uses. But “historically never really lost any real value.” is a fallacy. Gold is a highly speculative investment that doesn’t give a return like most assets. And of course Gold has lost value, buy it during price spikes (1980 and now for instance) and after it collapses again, you will die before the price returns to what you bought it.

  • #108840
    Profile photo of Anonymous
    Anonymous
    Participant

    @peterhun wrote:

    @Ardun wrote:

    Hehe I’m actually not a goldlover myself but it’s quite good in the sense that it’s small and historically never really lost any real value. It’s used quite a lot in electronics also so It’s just not bling bling.

    Of course has its uses. But “historically never really lost any real value.” is a fallacy. Gold is a highly speculative investment that doesn’t give a return like most assets. And of course Gold has lost value, buy it during price spikes (1980 and now for instance) and after it collapses again, you will die before the price returns to what you bought it.

    Yes but it has still always had a value. Not like paper money after revolutions, economic collapses, wars etc. The gold price is very high at the moment and it might crash from these levels but it will not become worthless.

  • #109010
    Profile photo of Anonymous
    Anonymous
    Participant

    @peterhun wrote:

    @Ardun wrote:

    Hehe I’m actually not a goldlover myself but it’s quite good in the sense that it’s small and historically never really lost any real value. It’s used quite a lot in electronics also so It’s just not bling bling.

    Of course has its uses. But “historically never really lost any real value.” is a fallacy. Gold is a highly speculative investment that doesn’t give a return like most assets. And of course Gold has lost value, buy it during price spikes (1980 and now for instance) and after it collapses again, you will die before the price returns to what you bought it.

    Yes but it has still always had a value. Not like paper money after revolutions, economic collapses, wars etc. The gold price is very high at the moment and it might crash from these levels but it will not become worthless.

  • #108842
    Profile photo of peterhun
    peterhun
    Participant

    Food and fuel keeps its value or increases. Property is a far better investment than gold at this stage, gold is in a speculative bubble and will lose 75% of its value over the next decade. Its lost 20% in three months, making it a bear market. Property would take years to lose that much and even if it did it would still provide a yield. Gold is shiny, which is a yield of sorts.

  • #109014
    Profile photo of peterhun
    peterhun
    Participant

    Food and fuel keeps its value or increases. Property is a far better investment than gold at this stage, gold is in a speculative bubble and will lose 75% of its value over the next decade. Its lost 20% in three months, making it a bear market. Property would take years to lose that much and even if it did it would still provide a yield. Gold is shiny, which is a yield of sorts.

  • #108844
    Profile photo of angie
    angie
    Spectator

    If the Eurozone run on the Banks gathers momentum then I expect many people will turn to gold again for a while, it will probably push through $2000 an ounce then, but that said, where is a safe haven/investment anywhere? 🙄

  • #109018
    Profile photo of angie
    angie
    Spectator

    If the Eurozone run on the Banks gathers momentum then I expect many people will turn to gold again for a while, it will probably push through $2000 an ounce then, but that said, where is a safe haven/investment anywhere? 🙄

  • #108846
    Profile photo of Anonymous
    Anonymous
    Participant

    @peterhun wrote:

    Food and fuel keeps its value or increases. Property is a far better investment than gold at this stage, gold is in a speculative bubble and will lose 75% of its value over the next decade. Its lost 20% in three months, making it a bear market. Property would take years to lose that much and even if it did it would still provide a yield. Gold is shiny, which is a yield of sorts.

    Food and fuel are great things to own but the problem is how to store it. Buying contracts for future food/fuels etc will also become worthless if the financial system is found out.

    Are you going to store 100 drums of oils in your garage? Or a warehouse of food which will rot? Food has also dropped quite a lot in inflation adjusted numbers so I wouldn’t call it safe.

    Nothing is 100% safe in this pyramid scheme because of how much credits the fractional reserve system have spewed out into the system.

    Water reserves should be a good investment and I doubt it will ever become useless.

  • #109022
    Profile photo of Anonymous
    Anonymous
    Participant

    @peterhun wrote:

    Food and fuel keeps its value or increases. Property is a far better investment than gold at this stage, gold is in a speculative bubble and will lose 75% of its value over the next decade. Its lost 20% in three months, making it a bear market. Property would take years to lose that much and even if it did it would still provide a yield. Gold is shiny, which is a yield of sorts.

    Food and fuel are great things to own but the problem is how to store it. Buying contracts for future food/fuels etc will also become worthless if the financial system is found out.

    Are you going to store 100 drums of oils in your garage? Or a warehouse of food which will rot? Food has also dropped quite a lot in inflation adjusted numbers so I wouldn’t call it safe.

    Nothing is 100% safe in this pyramid scheme because of how much credits the fractional reserve system have spewed out into the system.

    Water reserves should be a good investment and I doubt it will ever become useless.

  • #108851
    Profile photo of peterhun
    peterhun
    Participant

    Well, I bought farmland and so apparently are a lot of investors. Gold would have been a good idea a few years ago, no its a ridiculous bubble.

    My plan is to keep buying more land.

  • #109032
    Profile photo of peterhun
    peterhun
    Participant

    Well, I bought farmland and so apparently are a lot of investors. Gold would have been a good idea a few years ago, no its a ridiculous bubble.

    My plan is to keep buying more land.

  • #108854
    Profile photo of Anonymous
    Anonymous
    Participant

    @peterhun wrote:

    Well, I bought farmland and so apparently are a lot of investors. Gold would have been a good idea a few years ago, no its a ridiculous bubble.

    My plan is to keep buying more land.

    Sound investment. With an ever increasing population and needs this cant go wrong.

    I bought woodland? since farmland is quite regulated here.

  • #109038
    Profile photo of Anonymous
    Anonymous
    Participant

    @peterhun wrote:

    Well, I bought farmland and so apparently are a lot of investors. Gold would have been a good idea a few years ago, no its a ridiculous bubble.

    My plan is to keep buying more land.

    Sound investment. With an ever increasing population and needs this cant go wrong.

    I bought woodland? since farmland is quite regulated here.

  • #108857
    Profile photo of GarySFBCN
    GarySFBCN
    Participant

    May 17 (Reuters) – Customers of troubled Spanish bank Bankia, nationalized last week, have taken out over 1 billion euros ($1.3 billion) from their accounts over the past week, El Mundo newspaper reported on Thursday.

    http://www.reuters.com/article/2012/05/17/bankia-idUSL5E8GH0AC20120517

    Edward Hugh on Facebook: In an attempt to manipulate the stock price Bankia was systematically buying its own shares, even as it was being nationalised. So now, among the many “jewels in its crown” the bank has a a 4.3% holding in itself.

    Now tell me that regulations are not necessary.

    And until the criminals in the financial industry are jailed and forced to give up all of their personal holdings to begin restitution, do not even think of cutting one pensioner’s meager income.

  • #109044
    Profile photo of GarySFBCN
    GarySFBCN
    Participant

    May 17 (Reuters) – Customers of troubled Spanish bank Bankia, nationalized last week, have taken out over 1 billion euros ($1.3 billion) from their accounts over the past week, El Mundo newspaper reported on Thursday.

    http://www.reuters.com/article/2012/05/17/bankia-idUSL5E8GH0AC20120517

    Edward Hugh on Facebook: In an attempt to manipulate the stock price Bankia was systematically buying its own shares, even as it was being nationalised. So now, among the many “jewels in its crown” the bank has a a 4.3% holding in itself.

    Now tell me that regulations are not necessary.

    And until the criminals in the financial industry are jailed and forced to give up all of their personal holdings to begin restitution, do not even think of cutting one pensioner’s meager income.

  • #109056
    Profile photo of Anonymous
    Anonymous
    Participant

    It’s regulations, subsidies and a faulty system that got us here. If we keep on bailing out banks that have made reckless decisions the banks will never learn.

  • #108863
    Profile photo of Anonymous
    Anonymous
    Participant

    It’s regulations, subsidies and a faulty system that got us here. If we keep on bailing out banks that have made reckless decisions the banks will never learn.

  • #109068
    Profile photo of peterhun
    peterhun
    Participant

    @Ardun wrote:

    Sound investment. With an ever increasing population and needs this cant go wrong.

    I bought woodland? since farmland is quite regulated here.

    Actually its a bit harder to buy woodland in Poland I believe, but farmland still needs a permit til 2016 for non-Poles. Its not really cheap either (its too easy to convert to building land worth 10x as much), but fertile. They reckon 10-20 ha is enough to basically be a rich farmer. Owning over 3.5ha removes planning restrictions for building (similar to Spain?).

    I heard its not unusual to buy lakes in Sweden – but the upkeep is expensive.

  • #108869
    Profile photo of peterhun
    peterhun
    Participant

    @Ardun wrote:

    Sound investment. With an ever increasing population and needs this cant go wrong.

    I bought woodland? since farmland is quite regulated here.

    Actually its a bit harder to buy woodland in Poland I believe, but farmland still needs a permit til 2016 for non-Poles. Its not really cheap either (its too easy to convert to building land worth 10x as much), but fertile. They reckon 10-20 ha is enough to basically be a rich farmer. Owning over 3.5ha removes planning restrictions for building (similar to Spain?).

    I heard its not unusual to buy lakes in Sweden – but the upkeep is expensive.

  • #109071
    Profile photo of Anonymous
    Anonymous
    Participant

    peterhun interested lecture about commodity money and FIAT-money http://www.youtube.com/watch?v=jt-6lHTpefU

    It’s a little bit weird in our country since we have something called “allemansrätten and strandskydd”.

    Allemansrätten = the right for anyone to walk around on anyones land basicly and you can’t really fence it off. You are not allowed to walk around in someones garden though. You are allowed to pick wild berries etc as long as it’s in a none commercial way.

    Strandskydd = protection against people who want to build to close to lakes/water which would mean that not everyone could use them.

    You can’t really own a lake but if you control all land around it you could “wrongly” say that you own the lake though you don’t. The only lake you can own is if you make one yourself.

    I meant that it was easier to buy forrestland here than for example farmland because you need to buy whole farmlands at once and not small pieces. They don’t want the farmland split up since it would mean less productive farming… thats the idea at least.

    I love Poland. Usually go and visit the area of Poznan once in awhile to stock up on certain chemicals. My mother has a lot of friends from Poland since she spent a lot of time playin handball there when she was young.

  • #108871
    Profile photo of Anonymous
    Anonymous
    Participant

    peterhun interested lecture about commodity money and FIAT-money http://www.youtube.com/watch?v=jt-6lHTpefU

    It’s a little bit weird in our country since we have something called “allemansrätten and strandskydd”.

    Allemansrätten = the right for anyone to walk around on anyones land basicly and you can’t really fence it off. You are not allowed to walk around in someones garden though. You are allowed to pick wild berries etc as long as it’s in a none commercial way.

    Strandskydd = protection against people who want to build to close to lakes/water which would mean that not everyone could use them.

    You can’t really own a lake but if you control all land around it you could “wrongly” say that you own the lake though you don’t. The only lake you can own is if you make one yourself.

    I meant that it was easier to buy forrestland here than for example farmland because you need to buy whole farmlands at once and not small pieces. They don’t want the farmland split up since it would mean less productive farming… thats the idea at least.

    I love Poland. Usually go and visit the area of Poznan once in awhile to stock up on certain chemicals. My mother has a lot of friends from Poland since she spent a lot of time playin handball there when she was young.

  • #109073
    Profile photo of peterhun
    peterhun
    Participant

    “I meant that it was easier to buy forrestland here than for example farmland because you need to buy whole farmlands at once and not small pieces.”
    Thats the one difference, in the UK a farm would a hundred Ha, in Poland you can buy individual fields of a couple of acres. There are millions of farms so you build up a bit by bit. All my neighbours want to sell land, they have grown up children who want city life not working on a farm like their parents.

    Have you ever been to Lithuania? I crossed over from Poland and was shocked at the desolation. Just over the border, most of the land is just abandoned, with trees beginning to to take back the fields. Its depopulated.

  • #108873
    Profile photo of peterhun
    peterhun
    Participant

    “I meant that it was easier to buy forrestland here than for example farmland because you need to buy whole farmlands at once and not small pieces.”
    Thats the one difference, in the UK a farm would a hundred Ha, in Poland you can buy individual fields of a couple of acres. There are millions of farms so you build up a bit by bit. All my neighbours want to sell land, they have grown up children who want city life not working on a farm like their parents.

    Have you ever been to Lithuania? I crossed over from Poland and was shocked at the desolation. Just over the border, most of the land is just abandoned, with trees beginning to to take back the fields. Its depopulated.

  • #109074
    Profile photo of Anonymous
    Anonymous
    Participant

    @peterhun wrote:

    “I meant that it was easier to buy forrestland here than for example farmland because you need to buy whole farmlands at once and not small pieces.”
    Thats the one difference, in the UK a farm would a hundred Ha, in Poland you can buy individual fields of a couple of acres. There are millions of farms so you build up a bit by bit. All my neighbours want to sell land, they have grown up children who want city life not working on a farm like their parents.

    Have you ever been to Lithuania? I crossed over from Poland and was shocked at the desolation. Just over the border, most of the land is just abandoned, with trees beginning to to take back the fields. Its depopulated.

    It’s the only one I haven’t visited of the baltic states.

  • #108874
    Profile photo of Anonymous
    Anonymous
    Participant

    @peterhun wrote:

    “I meant that it was easier to buy forrestland here than for example farmland because you need to buy whole farmlands at once and not small pieces.”
    Thats the one difference, in the UK a farm would a hundred Ha, in Poland you can buy individual fields of a couple of acres. There are millions of farms so you build up a bit by bit. All my neighbours want to sell land, they have grown up children who want city life not working on a farm like their parents.

    Have you ever been to Lithuania? I crossed over from Poland and was shocked at the desolation. Just over the border, most of the land is just abandoned, with trees beginning to to take back the fields. Its depopulated.

    It’s the only one I haven’t visited of the baltic states.

  • #109078
    Profile photo of peterhun
    peterhun
    Participant

    Maybe its better towards the coast or capital, but you might not want to bother.

  • #108878
    Profile photo of peterhun
    peterhun
    Participant

    Maybe its better towards the coast or capital, but you might not want to bother.

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